You can start with Fuquan Bilal's Book "Turning Distress into Success" Also Martin Saenz "Note investing Made easier".

I've used that strategy in the past successfully. 

I am considering this as a possible method to purchase another property and was wondering if anyone has had success with it?

Pitfalls, warnings and success stories would be great.

Hi Everyone,Been doing a ton of research lately, reading books, listening to podcasts, reading the forums, etc......It seems nearly everything I come across is geared toward becoming a GP, getting deals, raising funds etc......However, that is not what I’m looking for, I own my own successful company, love it, and not looking to give that up, strictly looking to invest. 

I am wondering how it might be possible to purchase a non-performing note directly from a lender, in this case it's Chase Bank. 

We have had a LOT of success finding deals right around Thanksgiving and Christmas. 

Through a personal contact that has become successful with real estate investing, I started to dive into the subject last summer.

I know this probably has alarm bells ringing at this point, the new guy that thinks he can make it buying up cheap properties in Detroit, but as David Green says in his book, a good property manager can have success with this.

Another way to go about it would be to put language in your contract with the new buyer that his contract is a backup contract and is subject to the first buyer not performing on the 26th.